Europe's Soaring Gas Bill Is Sending Utilities Back To Coal
- Dutch TTF gas benchmarks traded around €78 per megawatt-hour on Friday after crossing €80 on Thursday, as Europe entered winter with storage facilities just 72% full—the lowest level since 2011.
- Shipping constraints through the Strait of Hormuz, controlling 20% of global LNG trade, have throttled exports from Qatar and the United Arab Emirates since the US-Israeli war against Iran began February 28, driving prices nearly triple.
- The Institute for Energy Economics and Financial Analysis reported EU gas reserves are emptier than any autumn since 2011, forcing the bloc to use 7% less gas than last winter when Russia's complete LNG import ban takes effect January 2027.
- EU gas transmission operators warned Thursday that a severe winter could leave Europe 12% to 15% short of needed gas, prompting Energy Commissioner Dan Jørgensen to urge governments to curb demand amid exceptionally low storage levels.
- Rather than expanding storage, IEEFA urged investment in renewables and efficiency upgrades, warning that buying gas to store has become a "financial risk rather than a profitable strategy." Brussels relaxed storage targets to 75%-80% by November 1, while Germany mandated state importer SEFE store 8 terawatt-hours by December 15.
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The European Union risks entering the winter of 2026-2027 with insufficient gas reserves to cope with a cold season, on the background of tensions in the Middle East and competition for liquefied natural gas, says Politico. A report by the Institute for Energy Economics and Financial Analysis estimates a possible deficit of up to 14 billion cubic metres, equivalent to about 7% of EU demand. In an unfavourable scenario, prices could rise, and Sta…
EU threatens gas shortages as winter approaches - Politico The <p>EU risks losing up to 14 billion cubic meters of gas this winter due to low supplies and supply disruptions. This can drive up prices.</p>
The European Union can meet its winter gas demand, even though underground storage stocks are at historically low levels, the European Network of Transmission System Operators for Gas (ENTSOG) warned in its winter assessment. As of October 1, EU gas storage was 72 percent full on average. ENTSOG described the level as “historically low” and called for continued gas injection and close monitoring of stocks throughout the winter season. “Maintaini…
Despite the levels of gas storage "be lower than historical levels," the EU gas system "is flexible enough to meet demand this winter and EU infrastructure is able to handle more imports of... (ANSA)
The Association of European Gas Transport Network Operators announced today Thursday that the European Union has the capacity to meet gas demand over the coming winter, although storage levels have reached historically low levels.
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